Korean summit a major step toward peace

After President Trump snapped the ball, North Korean Leader Kim Jong-un and South Korean President Moon Jae-in have run with it, pledging at their joint summit this morning to seek a formal end to the Korean War and pursue with a shared goal of denuclearizing the peninsula.

Why it matters: This is the first major positive geopolitical development of the year. It’s hard to see the U.S. credibly threatening military pre-emption when peace is breaking out across the peninsula — which is precisely the point.

There’s a "be careful what you wish for" element to any breakthrough for the Americans. After all, if an agreement ultimately means no need for the U.S., the Korean peninsula tilts away from security and toward economics.

The bottom line: Peace is a welcome development for both sides, no question. But it likely means a future dominated by the Chinese.

Ian Bremmer is president of the Eurasia Group and the author of "Us vs. Them: The Failure of Globalism."